The Financial Services and Markets Bill [HL] is a wide-ranging bill that aims to reform the way the UK financial services sector is regulated. This briefing provides a summary of the bill’s second reading and committee stage in the House of Lords ahead of its further consideration at report.

The Financial Services and Markets Bill [HL] is a wide-ranging bill that aims to reform the way the UK financial services sector is regulated. This briefing provides a summary of the bill’s second reading and committee stage in the House of Lords ahead of its further consideration at report.

To ask the Secretary of State for Defence, what support is being provided to defence manufacturers to innovate and maintain global competitiveness.

To ask the Secretary of State for Defence, what support is being provided to defence manufacturers to innovate and maintain global competitiveness.

Last night I delivered my annual Mansion House speech at the Financial and Professional Services Dinner at Mansion House.

In my speech, I announced a package of further reforms to unlock investment across the country, increase access to finance for growing businesses and position the UK at the forefront of financial...

Last night I delivered my annual Mansion House speech at the Financial and Professional Services Dinner at Mansion House.

In my speech, I announced a package of further reforms to unlock investment across the country, increase access to finance for growing businesses and position the UK at the forefront of financial...

My honourable friend, Rachel Reeves MP (Chancellor of the Exchequer) has today made the following statement.

Last night I delivered my annual Mansion House speech at the Financial and Professional Services Dinner at Mansion House.

In my speech, I announced a package of further reforms to unlock investment across the country, increase...

My honourable friend, Rachel Reeves MP (Chancellor of the Exchequer) has today made the following statement.

Last night I delivered my annual Mansion House speech at the Financial and Professional Services Dinner at Mansion House.

In my speech, I announced a package of further reforms to unlock investment across the country, increase...

To ask His Majesty's Government what steps they are taking to enhance the competitiveness of the UK tourism and hospitality industry within the European market.

To ask His Majesty's Government what steps they are taking to enhance the competitiveness of the UK tourism and hospitality industry within the European market.

Lords report stage. Amendment 3 disagreed to on division (158 to 239). Amendments 18, 19, 24, 27, 28, 30 and 31 agreed to. Amendment 33 agreed to on division (142 to 138). Amendments 40, 45, 49, 56, 58 and 62 agreed to. Amendment 65 disagreed to on division (41 to 118). Amendments 71 and 72 agreed to. Bill, as amended, ordered to be printed (HL Bill 40).

Lords report stage. Amendment 3 disagreed to on division (158 to 239). Amendments 18, 19, 24, 27, 28, 30 and 31 agreed to. Amendment 33 agreed to on division (142 to 138). Amendments 40, 45, 49, 56, 58 and 62 agreed to. Amendment 65 disagreed to on division (41 to...

Moved by

Lord Moylan

1: Before Clause 1, insert the following new Clause—

“Purpose

(1) The purpose of this Act is to—

(a) promote the international competitiveness of the United Kingdom aviation sector;

(b) support economic growth in that sector;

(c) protect the rights and interests of consumers of air transport and airport services.

(2) The Secretary of...

Moved by

Lord Moylan

1: Before Clause 1, insert the following new Clause—

“Purpose

(1) The purpose of this Act is to—

(a) promote the international competitiveness of the United Kingdom aviation sector;

(b) support economic growth in that sector;

(c) protect the rights and interests of consumers of air transport and airport services.

(2) The Secretary of...

My Lords, this is what I refer to as, in essence, an administrative Bill, in that it does not make large changes to the way in which civil aviation operates but changes significantly the way in which decisions will be made in future about how civil aviation operates. It does...

My Lords, this is what I refer to as, in essence, an administrative Bill, in that it does not make large changes to the way in which civil aviation operates but changes significantly the way in which decisions will be made in future about how civil aviation operates. It does...

My Lords, I will speak briefly in support of my noble friend Lord Moylan’s two amendments. I have some general remarks about them, and two specific points which are questions to the Minister.

The first point, which I will not labour at length since we dealt with it in Committee, is...

My Lords, I will speak briefly in support of my noble friend Lord Moylan’s two amendments. I have some general remarks about them, and two specific points which are questions to the Minister.

The first point, which I will not labour at length since we dealt with it in Committee, is...

My Lords, I support the comments made by my noble friend Lord Moylan. I do not think that there is a very simple solution. Before we covered all the legislation from the European Union, it was fairly straightforward for many decades in this country, as the CAA as a regulator...

My Lords, I support the comments made by my noble friend Lord Moylan. I do not think that there is a very simple solution. Before we covered all the legislation from the European Union, it was fairly straightforward for many decades in this country, as the CAA as a regulator...

My Lords, this is a very strange Bill; it is a Bill in search of a purpose, which proposes and transfers substantial powers to a regulatory body but which gives us no road map for how those powers are going to be used. In the debates we have had so...

My Lords, this is a very strange Bill; it is a Bill in search of a purpose, which proposes and transfers substantial powers to a regulatory body but which gives us no road map for how those powers are going to be used. In the debates we have had so...

My Lords, I thank the noble Lord, Lord Moylan, for Amendment 1, but I express concern that it and Amendment 3 are in conflict in their proposed new subsections (1)(c) and (1B)(c). The reason for that was amply explained by the noble Lord, Lord Redwood. He started by saying that...

My Lords, I thank the noble Lord, Lord Moylan, for Amendment 1, but I express concern that it and Amendment 3 are in conflict in their proposed new subsections (1)(c) and (1B)(c). The reason for that was amply explained by the noble Lord, Lord Redwood. He started by saying that...

My Lords, I turn to the first group of amendments, Amendments 1 and 3 tabled by the noble Lord, Lord Moylan. I thank both Front Benches for having met us over the past few days in the run-up to Report. All the insight, information and conversations have been very much...

My Lords, I turn to the first group of amendments, Amendments 1 and 3 tabled by the noble Lord, Lord Moylan. I thank both Front Benches for having met us over the past few days in the run-up to Report. All the insight, information and conversations have been very much...

Before the noble Baroness sits down, can I reference the point that she made about disabled people? The amendment tabled by my noble friend Lord Moylan just says that the Government have to consider the burdens. If you make air travel better for disabled people, you will grow the top...

Before the noble Baroness sits down, can I reference the point that she made about disabled people? The amendment tabled by my noble friend Lord Moylan just says that the Government have to consider the burdens. If you make air travel better for disabled people, you will grow the top...

I thank the noble Lord. We think that driving for this principle cuts across the stronger consumer rights that we have been talking about all through Committee.

I thank the noble Lord. We think that driving for this principle cuts across the stronger consumer rights that we have been talking about all through Committee.

My Lords, before addressing these amendments, I thank all noble Lords for their continued contributions to the Bill. It is clear that we share the common goal of improving the aviation sector. The Government have carefully reflected on the arguments that have been put forward during the Bill’s passage. The...

My Lords, before addressing these amendments, I thank all noble Lords for their continued contributions to the Bill. It is clear that we share the common goal of improving the aviation sector. The Government have carefully reflected on the arguments that have been put forward during the Bill’s passage. The...

My Lords, I am disappointed to hear the noble Lord’s response; I would largely be repeating myself if I were to explain in any detail why. I think the point made by the noble Baroness, Lady Brinton, has been responded to by my noble friend Lord Harper. I will be...

My Lords, I am disappointed to hear the noble Lord’s response; I would largely be repeating myself if I were to explain in any detail why. I think the point made by the noble Baroness, Lady Brinton, has been responded to by my noble friend Lord Harper. I will be...

Moved by

Baroness Grender

2: Clause 1, page 1, line 12, at end insert—

“(1A) Regulations under this section may not reduce the standards of service and protection available to passengers and consumers of airport and air transport services compared to any provision which those regulations replace.”

Member's explanatory statement

This amendment ensures that regulations...

Moved by

Baroness Grender

2: Clause 1, page 1, line 12, at end insert—

“(1A) Regulations under this section may not reduce the standards of service and protection available to passengers and consumers of airport and air transport services compared to any provision which those regulations replace.”

Member's explanatory statement

This amendment ensures that regulations...

My Lords, I shall speak to Amendment 2 standing in my name. Throughout the passage of this Bill, these Benches have pursued a consistent and, I hope, unwavering approach that passengers must come first. Whether we were debating information rights, delay compensation or the powers conferred on the Secretary of...

My Lords, I shall speak to Amendment 2 standing in my name. Throughout the passage of this Bill, these Benches have pursued a consistent and, I hope, unwavering approach that passengers must come first. Whether we were debating information rights, delay compensation or the powers conferred on the Secretary of...

My Lords, in speaking to my Amendment 6, I declare my interest as chief operating officer of Natasha’s Foundation, the UK’s food allergy charity. I thank the noble Baronesses, Lady Grey-Thompson and Lady Brinton, for adding their names to the amendment and the noble Lord, Lord Moylan, for his support...

My Lords, in speaking to my Amendment 6, I declare my interest as chief operating officer of Natasha’s Foundation, the UK’s food allergy charity. I thank the noble Baronesses, Lady Grey-Thompson and Lady Brinton, for adding their names to the amendment and the noble Lord, Lord Moylan, for his support...